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The Nepal Stock Exchange (NEPSE) gained 59.87 points to close at 1, 983. 95 points on Tuesday. Similarly, the sensitive index surged by 10.59 points to close at 386. 04 points. A total of 12,029,603 unit shares of 261 companies were traded for Rs 3. 88 billion. Meanwhile, Siddhartha Insurance Limited, Multipurpose Finance Company Limited, Ajod Insurance Limited and Shrijanshil Laghubitta Bittiya Sanstha Limited were the top gainers today, with their price surging by 10. 00 percent. Adhikhola Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 2. 63 percent. At the end of the day, total market capitalization stood at Rs 2. 86 trillion.

President Bidya Devi Bhandari has called the Parliament meeting for 1 pm on January 9. The President called the meeting as per the recommendation of the Office of the Prime Minister and Council of Ministers. Prime Minister Pushpa Kamal Dahal had told President Bhandari to convene the Parliament meeting at the earliest. Senior member of the Parliament Pashupati Shumsher JB Rana had administered the oath of office and secrecy to the newly elected lawmakers on December 22.  

The Home Ministry has directed the incumbent and former government officials and security personnel, who have kept the private security personnel and assistants against the rules, to return them to the concerned security agencies within 48 hours. The Ministry made such a decision a day after Rastriya Swatantra Party Chairman Rabi Lamichhane became the Home Minister. Issuing a statement on Tuesday, the Home Ministry called all the security personnel deployed for private security. The statement issued by Ministry spokesperson Phanindra Mani Pokharel asked the current and former government officials to keep the security personnel as per the Security Management Procedure 2077.  

Nepal Electricity Authority (NEA) has planned to develop the Ratmate-Rasuwagadhi-Kerung Transmission Line Project by avoiding Langtang National Park to a large extent as it fears backlash from environmental lobbies for constructing energy infrastructure inside the national park. Though NEA conducted the feasibility of the 400kV cross-border transmission line connecting Nepal and China by maintaining alignment through the national park and also by mostly avoiding the national park, it plans to avoid the option of maintaining alignment inside the national park despite that options appearing cheaper. On Monday, the Ratmate-Rasuwagadhi-Kerung Transmission Line Project called for written suggestions from stakeholders about the impact the project could have in the areas of nature and physical infrastructure, biodiversity, social and cultural heritages, and the economic system of the area. The suggestions were sought as a part of the conducting Environmental Impact Assessment (EIA) of the project under which 208 towers will be built. “The suggestions from the stakeholders were sought for the proposed alignment of the project which avoids the national park to a large extent,” said a senior NEA official under the condition of anonymity. According to the notice issued by the project, only 4.5km of the alignment will fall inside the national park. “Alternative alignment covers as much as 24km of the national park which we deliberately avoided,” the official said. The feasibility study shows that around Rs10 billion would be required to build this project while avoiding the alignment inside the national park. In the notice, feedback has been sought from local government, schools, hospitals, health posts, and other stakeholder institutions and individuals within seven days as part of identifying the study area (scoping) for the EIA. Possible districts to be affected by the project include Rasuwa and Nuwakot, according to the notice. The local governments potentially to be affected by the projects include rural municipalities including Gosaikunda, Amachhodingmo (Parbatikunda) and Uttargaya and Kishpang. Likewise, Bidur Municipality, Tarkeshwar Rural Municipality and Belkotgadi Municipality are likely to be affected, according to the project. According to Komal Nath Atreya, chief of the transmission line project, they will start working on the construction modality of the transmission line after finalizing EIA. NEA Engineering Company, a subsidiary company of NEA, is taking charge of the EIA of the project. Officials said the 70km project which can carry 5,000MW of electricity would open the door for power trade between Nepal and China. Currently, Nepal only has a single outside market i.e., India to sell its electricity and buy from. India has allowed Nepal to sell a maximum 408MW of electricity from eight hydropower projects. Nepal has also been buying power from India during the dry season, particularly after December when domestic power production slumps. The 400 kV transmission line from Ratamate (Nepal) to Kerung (China) will lead to Nepal- China power trading in the years to come, according to NEA. “As India does not buy electricity generated by projects where Chinese investors and contractors are involved, this project will be vital for attracting Chinese investment with the objective of selling power to China,” said the NEA official. “The project has been important even for domestic transmission of power as there are several power projects along the Trishuli corridor.” There is not a single 400KV transmission line for the transmission of power domestically in the country currently. Nepal and China have signed a cooperation agreement regarding the construction of this transmission project which was extended by two years when Chinese Foreign Minister Wang Yi visited Nepal in March this year, according to the NEA. But it is taking time for both sides to carry out additional negotiations between the two sides to develop this project. A Joint Technical Group representing officials of the Nepal Electricity Authority and State Grid Corporation of China held two rounds of talks in China and Nepal regarding the development of the project before the Covid-19 pandemic hit the world. The last meeting was held in March 2020 when officials of State Grid Corporation of China visited Nepal before Nepal imposed the first lockdown in March that year. There was a plan to observe the site of an electricity facility including a substation in China’s Kerung. “We were planning to organize the Nepal side to China along with the relaxation of Covid-19 rules in China,” the NEA official said. But the pandemic once again is now spreading in China which will force the Nepali delegation to spend time in Chinese quarantine for days. “We are now planning to request the Chinese side to visit Nepal potentially in February to hold the next round of talks,” the official said.

The Nepal Police Headquarters, Naxal has recommended the Home Ministry to suspend DSP Thug Bahadur KC of the Area Police Office, Butwal. KC was arrested after he was accused of taking the gold of a trader of Butwal under control and keeping it himself. A team of Central Investigation Bureau (CIB) apprehended KC from his residence on Sunday. Police said that they recovered 35 tola gold and Rs 2.5 million in cash from his possession.  

Prime Minister Pushpa Kamal Dahal has recommended advocate Dr Dinmani Pokharel for the post of Attorney General. The Attorney General is the chief legal advisor of the government and is appointed by the President at the recommendation of the prime minister. Pokharel was the legal advisor of the then Speaker Onsari Gharti Magar. Attorney General Khamma Bahadur Khati resigned on Monday after the formation of a new government under the leadership of CPN (Maoist Center) Chairman Pushpa Kamal Dahal. There is a culture of changing the legal advisor of the government with the change of the government.  

The price of gold has increased by Rs 200 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 100, 700 per tola today. It was traded at Rs 100, 500 on Monday. Meanwhile, tejabi gold is being traded at Rs 100, 200 per tola. Similarly, the silver is being traded at Rs 1, 390 per tola today.

Prime Minister Pushpa Kamal Dahal has said that the government’s main priority is to improve the country’s economy. During a meeting with the office bearers of the Confederation of Nepalese Industries on Tuesday, Dahal assured that the government will move ahead by cooperating with the private sector. Receiving the suggestions of a delegation led by CNI Chairman Bishnu Kumar Agrawal, PM Dahal said that the main focus of the government is to improve the economy. “I was expecting the same thing from the private sector. The Confederation has clearly given plans for improvement. I would like to thank the Confederation for the same,” he said, adding, “We have given priority to the economy from the first meeting of the Cabinet. We will move forward by cooperating with the private sector.” The delegation held a meeting with Prime Minister Dahal at his private residence in Khumaltar this morning. Congratulating Dahal on behalf of the private sector for being appointed as the prime minister and wishing him for the successful tenure, Agrawal suggested that the new government’s first priority should be improving the country’s economy which is in a dire state.